Business
Agreement with Gruppo Bancario Mediterraneo
Agreement with Gruppo Bancario Mediterraneo.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 7439C Brainspark PLC 11 March 2011 \n \n\n11 March 2011\n \nBrainspark plc\n (\"Brainspark\" or \"the Company\")\n \nAgreement with Gruppo Bancario Mediterraneo\n \nBrainspark plc (AIM: BSP), a fast growing international investment company, announces that it has entered into an agreement with Gruppo Bancario Mediterraneo Holding SpA (\"GBM Holding\"), a Rome head-quartered bank, focused on the advisory arena. Under the provision of this agreement GBM Holding will coordinate a fund raising programme in Italy on behalf of Brainspark of up to EUR 10 million.\n \nThe proceeds will in part facilitate Brainspark exercising its existing options to underwrite 9.9 per cent. of the issued share capital of Banca Federiciana S.p.A., a banking entity controlled by GBM Holding, as announced by Brainspark on 25 November 2010. The cost of exercising the options will be approximately EUR 3 million. \n \nBanca Federiciana is an Italian regional bank based in the Puglia region with a focus on the SME sector. At 31 December 2010, Banca Federiciana had financial assets of approximately EUR 57,3 million (approx. GBP 49 million). \n \nGBM Holding has a paid up capital of EUR 35 million and is in the process of raising its capital to EUR 50 million.\n \n \nAlfredo Villa, Chairman and CEO of Brainspark, commented, \"We have chosen to invest into these two high quality regional banks as they consistently deliver solid performances and it is hoped that our relationship will allow us to utilise their placing power and equity capital to fund future investments.\"\n \nEnzo Cardi, President of GBM Holding, commented,\"The quality of our investors is key for the healthy growth of our organisation, and, we consider ourselves privileged to have such a dynamic partner, that has added an international dimension to our group.\" \n \n-ends-\n \nFor further information please contact:\n \nBrainspark plc &...